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- W1981849069 abstract "Abstract Machina and Schmeidler show that the probabilistic sophistication can be obtained in an Anscombe–Aumann setting without imposing expected utility by maintaining stochastic monotonicity and adding a new axiom loosely analogous to Savage's P4. This analogous axiom, however, is very strong. In this note, we obtain probabilistic sophistication using a weaker (and more natural) analog of Savage's P4. Stochastic monotonicity is sufficient to bridge the gap, where Anscombe and Aumman use independence twice, we use stochastic monotonicity twice." @default.
- W1981849069 created "2016-06-24" @default.
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- W1981849069 date "2006-09-01" @default.
- W1981849069 modified "2023-09-25" @default.
- W1981849069 title "Bayesian beliefs with stochastic monotonicity: An extension of Machina and Schmeidler" @default.
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- W1981849069 doi "https://doi.org/10.1016/j.jet.2005.03.006" @default.
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